ClaimsJensen Huang

“Stock-based compensation expense for the first quarter of fiscal 2027 is expected to have a 0.1% impact on non-GAAP gross margin and $1.9 billion in non-GAAP operating expenses.”

NVIDIA 25 February 2026 NVIDIA Form 8-K - Q4 FY2026 results (SEC) archived copy

Guidance Their own work or organisation

NVIDIA expects stock-based compensation in Q1 fiscal 2027 to have a 0.1% impact on non-GAAP gross margin and add $1.9 billion to non-GAAP operating expenses.

Resolved true The record shows it happened or was so.

Guidance: A company's own figures for its results over a period, checked against what it then reported.

The rule for a forecast that gives a range or a bound: the reported figure has to meet it as stated. A figure outside a range counts as not met whether it came in above or below, so beating a forecast is scored like missing it. The reasoning says which it was.

The second judge would not resolve this claim; the verdict shown is the first judge's.

The evidence is the person's or their organisation's own records.

What would count as true or false

Judge against NVIDIA's reported stock-based compensation (SBC) for Q1 fiscal 2027 (quarter ending about late April 2026), using the line-by-line SBC breakdown in the Q1 FY2027 10-Q or earnings release. The gross-margin impact is SBC in cost of revenue divided by revenue. The operating-expense figure is SBC in R&D plus SG&A. Both are point estimates, so judge them at the claim's precision. TRUE: the gross-margin impact rounds to 0.1 percentage point (under 0.15pp), and the opex SBC rounds to $1.9B ($1.85B to under $1.95B). MOSTLY TRUE: one part matches and the other is off by one rounding step (e.g. 0.2pp, or $1.8B or $2.0B), or both are off by one step. MIXED: one part matches and the other is clearly further off. MOSTLY FALSE: both miss, but each is within about 15% or 0.1pp. FALSE: both are clearly off (e.g. opex SBC below $1.6B or above $2.2B, and the margin impact 0.3pp or more), or no SBC was included in non-GAAP for the quarter. A formal restatement of the figures governs.

Set before the research began.

Evidence (11)

  1. E1 nvda-20260426 U.S. Securities and Exchange Commission (NVIDIA Form 10-Q for quarter ended April 26, 2026) · 27 September 2026 Own record

    “Cost of revenue — Allocated Share Based Compensation Expense — 2026-01-26 to 2026-04-26 [Cost Of Sales Member]: $68 million”

  2. E2 nvda-20260426 U.S. Securities and Exchange Commission (NVIDIA Form 10-Q for quarter ended April 26, 2026) · 27 September 2026 Own record

    “Research and development — Allocated Share Based Compensation Expense — 2026-01-26 to 2026-04-26 [Research And Development Expense Member]: $1,459 million”

  3. E3 nvda-20260426 U.S. Securities and Exchange Commission (NVIDIA Form 10-Q for quarter ended April 26, 2026) · 27 September 2026 Own record

    “Revenue — Revenues — 2026-01-26 to 2026-04-26: $81,615 million”

  4. E4 NVIDIA Announces Financial Results for First Quarter Fiscal 2027 NVIDIA · 20 May 2026 Own record

    “Beginning in the first quarter of fiscal 2027, NVIDIA’s non-GAAP financial measures no longer exclude stock-based compensation expense.”

  5. E5 nvda-20260426 (Form 10-Q for the quarter ended April 26, 2026) U.S. Securities and Exchange Commission (filed by NVIDIA Corporation) Own record

    “Cost of revenue — Allocated Share Based Compensation Expense — 2026-01-26 to 2026-04-26 [Cost Of Sales Member]: $68 million”

  6. E6 nvda-20260426 (Form 10-Q for the quarter ended April 26, 2026) U.S. Securities and Exchange Commission (filed by NVIDIA Corporation) Own record

    “Research and development — Allocated Share Based Compensation Expense — 2026-01-26 to 2026-04-26 [Research And Development Expense Member]: $1,459 million”

  7. E7 nvda-20260426 (Form 10-Q for the quarter ended April 26, 2026) U.S. Securities and Exchange Commission (filed by NVIDIA Corporation) Own record

    “Revenue — Revenues — 2026-01-26 to 2026-04-26: $81,615 million”

  8. E8 NVIDIA Announces Financial Results for First Quarter Fiscal 2027 NVIDIA · 20 May 2026 Own record

    “Beginning in the first quarter of fiscal 2027, NVIDIA’s non-GAAP financial measures no longer exclude stock-based compensation expense.”

  9. E9 NVIDIA : First Quarter 2027 Press Release MarketScreener · 20 May 2026 Own record

    “Three Months Ended April 26, April 27, 2026 2025 Cash flows from operating activities: Net income $ 58,321 $ 18,775 Adjustments to reconcile net income to net cash provided by operating activities: Stock-based compensation expense 1,928 1,474”

  10. E10 NVIDIA : First Quarter 2027 Press Release MarketScreener · 20 May 2026 Own record

    “Beginning in the first quarter of fiscal 2027, NVIDIA's non-GAAP financial measures no longer exclude stock-based compensation expense. The historical non-GAAP financial information presented has been updated to include stock-based compensation expense.”

  11. E11 NVIDIA : First Quarter 2027 CFO Commentary MarketScreener (UK) · 20 May 2026 Own record

    “Beginning in the first quarter of fiscal 2027, NVIDIA's non-GAAP financial measures no longer exclude stock-based compensation expense.”

Reasoning

The Q1 FY2027 10-Q reports $68 million of stock-based compensation in cost of revenue on revenue of $81,615 million (E1, E3). That is about a 0.08 percentage-point gross-margin impact, which rounds to the guided 0.1%. The press release's cash flow statement gives total stock-based compensation of $1,928 million for the quarter (E9). Subtracting the $68 million in cost of revenue leaves about $1,860 million in operating expenses, of which $1,459 million is R&D (E2); $1.86B rounds to the guided $1.9B, though it sits close to the $1.85B lower bound. The earnings release confirms that non-GAAP measures include stock-based compensation from this quarter (E4, E10).

Cite this claim

Jensen Huang, “NVIDIA expects stock-based compensation in Q1 fiscal 2027 to have a 0.1% impact on non-GAAP gross margin and add $1.9 billion to non-GAAP operating expenses.” (said 25 February 2026). Verdict: resolved true. Reliability API, claim c_d9f299b77327, method 0.1.0+03d23c0e, dataset release v1.1.2. https://epistacklabs.com/claims/c_d9f299b77327

This claim is in dataset release v1.1.2, with the same verdict.

Reply to this claim

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